The maximum excess you will pay under any one claim is $500, even if you claim under more than one section. What’s more, the bond remains the landlords!
What’s Covered?
Here’s what’s covered:
- Malicious Damage or Theft by the Tenants. $35,000
- Loss of Rents following the tenant vacating without giving the required notice. Up to 10 weeks
- Loss of Rents due to the eviction of a tenant for non-payment of Rent. Up to 18 weeks
- Loss of Rent due to the tenant refusing to vacate the property. Up to 10 weeks
- Loss of Rent following death of the tenant Up to 10 weeks
- Loss of Rent due to prevention of access or failure of public utilities. Up to 52 weeks
- Legal Liability as a Landlord Up to $1,000,000
- Loss of Rent due to manufacture, storage or distribution of ‘unlawful substances’ (P Lab) Up to $25,000
THAT’S RIGHT, YOU GET TO KEEP YOUR BOND!
Properties not professionally managed will incur a higher excess.